School of Pimpology - page 75
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Ding Dong
Oh Pimp
Not back to naked trading again are we?
Scorpion
Beginners lesson Part II
Sorry if I have been a bit slack on the beginners lessons. I have been very busy with others bits and pieces.
This lesson will try to shed some light on CCI.
The standard CCI we use is a 21.
Notice the chart.
When the CCI 21 is above 0.0 most of the time the price moves up and when it's below 0.0 it moves down. This is the basis of the CCI indicator.
One can just trade the cross of the 0.0 with varying degrees of success.
I have covered this before but for the sake of those who may have missed something I do it again.
The green lines are when cross from negative to postive and the reds are from positive to negative.
What we do is show CCI's from different timeframes on the chart to help get an edge.
Next I will add another CCI to help us refine this technique
Beginner Lesson III
This time we add a higher timeframe CCI to help eliminate taking trades against the main longer term trend.
On this 60m chart its an 84, which is 4 x 21, so it's the 4hr 21CCI.
By adding this we eradicate making silly mistakes taking only crosses of the 21 in the same direction as the 84
Beginners lesson IV
Next we have the trend within the trend within the trend indicator, the trigger CCI
This CCI is from a lower timeframe and acts as a signal to push the button, to get you in if you missed the cross of the 21.
A word of warning. Not every cross of the 21 CCI is valid and the signal is even more sensitive so not every signal is going to be a good one so use it with caution.
Ensure the trigger comes right back over the 100 level to indicate a nice retracement then as it comes back and crosses you jump in.
The most poweful moves usually come on the crossing of the longer term CCI, the intemediate signals withing that trend come from the cross of the 21 and the weakest signals come from within the trend of the those 2 with the sub-club signals of the trigger.
I hope these three lessons helps clear up any misunderstanding on how the CCI works.
Can I have my bacon sarnies now please. I just burnt my Pizza putting these lessons together
for your and everybody's sake.......
......I think you neeed to stop cooking!!!!!!!!
Seriously tho', thanks for your dedication to the group. May you be rewarded in more ways than one - incl a gf who cooks?
Parduman
pizza and beer
Hey Pimp,
Thanks for the lessons....
I always try to look @ things on the bright side......since you've burnt the pizza NOW you'll have more room for beer!!
Have a good day!
Matt
Next we have the trend within the trend within the trend indicator, the trigger CCI
This CCI is from a lower timeframe and acts as a signal to push the button, to get you in if you missed the cross of the 21.
A word of warning. Not every cross of the 21 CCI is valid and the signal is even more sensitive so not every signal is going to be a good one so use it with caution.
Ensure the trigger comes right back over the 100 level to indicate a nice retracement then as it comes back and crosses you jump in.
The most poweful moves usually come on the crossing of the longer term CCI, the intemediate signals withing that trend come from the cross of the 21 and the weakest signals come from within the trend of the those 2 with the sub-club signals of the trigger.
I hope these three lessons helps clear up any misunderstanding on how the CCI works.
Can I have my bacon sarnies now please. I just burnt my Pizza putting these lessons togetherPimp why not?
Take a break...
Yo guys, making money or going crazy?
It is nice to turn off you PC, forget about FOREX and have some fancy cocktail on the pool
I actually managed to not to look at charts for almost a week (half of my vacation) - then yesterday i sneaked to my room away of my wife's eyes and started few 15min charts, saw AUDJPY dropped veeeeery low (85.33) so i decided to buy 2 lots, just to start building position for further falling (if occurs) and gain some interest while i am in Turkey on vacation (AND NOT TO LOOK AT CHARTS ANYMORE)
Anyway, in the evening, before we went out, i checked charts again (what, you really believed me that i would let 2 lots open for 10 days without checking???) - day closed at 87.83 so i was in profit for 250 pips with - woooohooo i am going in shopping again (so is my wife of course)
So, what was i saying......?
It is nice to turn off you PC, forget about FOREX and have some fancy cocktail on the pool
Greetings from sunny Turkey
See you soon guys - take care of Mr. Pimp while i am away
Cake Man
Yo guys, making money or going crazy?
It is nice to turn off you PC, forget about FOREX and have some fancy cocktail on the pool
I actually managed to not to look at charts for almost a week (half of my vacation) - then yesterday i sneaked to my room away of my wife's eyes and started few 15min charts, saw AUDJPY dropped veeeeery low (85.33) so i decided to buy 2 lots, just to start building position for further falling (if occurs) and gain some interest while i am in Turkey on vacation (AND NOT TO LOOK AT CHARTS ANYMORE)
Anyway, in the evening, before we went out, i checked charts again (what, you really believed me that i would let 2 lots open for 10 days without checking???) - day closed at 87.83 so i was in profit for 250 pips with - woooohooo i am going in shopping again (so is my wife of course)
So, what was i saying......?
It is nice to turn off you PC, forget about FOREX and have some fancy cocktail on the pool
Greetings from sunny Turkey
See you soon guys - take care of Mr. Pimp while i am away
Cake ManGreat Story ! We all are the same ... can't stop totally watching charts ... it's like magnets!
Have fun!
FerruFx
Pimp why not?
Why not?
Well the simple answer is one must wait for the CCI to cross 0.0 AND you must also have an appropriate colour candle. Red for short or green for long.
How's that?